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RELAX,

THE HARD WORK’S BEEN DONE! Investing doesn’t have to be a daunting task. Our homes are built on time, on budget with more inclusions and more value. The packages come with a choice of interior designed colour schemes and are fully finished and ready to rent.

4 Bed

House & Land $369,000

*

SEMINAR

Pathway to Wealth

• Build wealth from Property • Financial freedom is closer than you think • Learn the skills millionaires use to create wealth • Planning for tomorrow

“Born and bred in Townsville and raising a family in the community I have a great understanding of the Townsville region, economy, demographics and amenities – all of which are important to home owners and investors” My personal passion is enjoying the journey with my client’s as they work towards fulfilling their financial dreams and goals. Rhonda Matthews New Home Sales Consultant

Phone 0421 621 218 rhonda@breakfreenq.com.au Holloway Homes (Aust) Pty Ltd BSA 1045795. Conditions apply, package is based on a 450sqm block in Bushland Grove. Please contact our office for full specifications and inclusions. 16 week build time is subject to inclement weather. Land is subject to availability and is subject to change.

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WHILE THE STEPS TO PURCHASING A PROPERTY – ESPECIALLY YOUR FIRST – CAN BE A LENGTHY PROCESS, THERE ARE A FEW THINGS YOU CAN DO NOW TO SPEED UP YOUR FINANCES AND ENSURE YOU’RE READY TO GO WHEN OPPORTUNITY ARISES. BY SMART PROPERTY INVESTMENT’S REBECCA DE BRITT WWW.SPIONLIONE.COM.AU

Ready to rent

Register your interest today!

Get purchasing power with faster finances

DUO INVESTOR’S GUIDE TO TOWNSVILLE

The most effective thing you can do is to have your finance pre-approved, allowing you to get ahead of the pack – property sellers may be attracted to buyers who have pre-approved finance over those who don’t. Loan pre-approval lets you head into the purchase process knowing the maximum amount you have to spend on the property, giving you confidence to buy at auction or negotiate on price and saving you time looking at places that aren’t in your price range. Keep in mind pre-approved finance is typically a limited time offer and it does not lock you into a loan. Getting pre-approved finance is not a difficult process, but it does require preparation and organization. A part of this that trips up first time investors is having the right documentation on hand. Obviously you need to have details of your income, your expenses, your assets, and of course your liabilities, so it means knowing what debts you currently have outstanding – whether it’s a personal loan, a car loan, a credit card loan – and to also keep in mind with regards to credit cards, it’s not just how much you owe, but also the limit that applies. It’s also important to keep in mind that pre-approval has a time frame, it doesn’t last forever. So you wouldn’t apply unless you’re actively looking and ready to go. Other tips to help get you going include:

KNOWING YOUR BORROWING LIMIT HAVE PROOF THAT YOUR DEPOSIT HAS BEEN SAVED and built up over time. Often, just having a large sum of money – whether it be a gift from your parents or otherwise – is not enough.

START THE SAVINGS HABIT EARLY Having a substantial deposit can help avoid costly lenders mortgage insurance.

EXPLORE YOUR OPTIONS It is crucial to set aside time with a professional mortgage broker to explore the loan types available to you, including how much you can borrow and the deposit size needed. This will help you to set realistic savings targets and timeframes.

CHECK THE CONTRACT PROPERLY Go through the contract with a fine tooth comb and ensure that there is enough time built in for pest and building inspections. If making an offer on a property as opposed to buying at auction, check to see if the contract includes a cooling off period and/or subject to finance clause, and the settlement period suits you and your current living arrangements.

DUO Magazine June 2013  

DUO Magazine is North Queensland’s very own luxury lifestyle publication. Now in its seventh year, the independent glossy has secured a plac...

DUO Magazine June 2013  

DUO Magazine is North Queensland’s very own luxury lifestyle publication. Now in its seventh year, the independent glossy has secured a plac...